Abits Group Inc. (NASDAQ:ABTS) Short Interest Update

Abits Group Inc. (NASDAQ:ABTS) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 47,304 shares, a decrease of 16.3% from the March 31st total of 56,486 shares. Based on an average daily trading volume, of 37,049 shares, the short-interest ratio is presently 1.3 days. Approximately 2.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abits Group in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Abits Group Stock Down 3.8%

Shares of NASDAQ:ABTS opened at $1.27 on Friday. Abits Group has a fifty-two week low of $0.97 and a fifty-two week high of $10.86. The firm has a 50-day simple moving average of $2.02 and a 200 day simple moving average of $4.27.

Abits Group (NASDAQ:ABTS) last posted its earnings results on Wednesday, April 29th. The company reported ($0.53) EPS for the quarter. The business had revenue of $2.57 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Abits Group stock. FNY Investment Advisers LLC bought a new position in Abits Group Inc. (NASDAQ:ABTS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned about 0.14% of Abits Group at the end of the most recent quarter. Hedge funds and other institutional investors own 0.20% of the company’s stock.

About Abits Group

Abits Group Inc operates in the bitcoin mining business in the United States. The company was formerly known as Moxian (BVI) Inc and changed its name to Abits Group Inc in November 2023. Abits Group Inc was incorporated in 2021 and is based in Causeway Bay, Hong Kong.